My wife is a big fan of the "Holmes on Homes" show (which is actually
pretty good). They go around fixing messes previous contractors have
made of house construction/renovation jobs. They regularly install whole
house surge arrestors on the breaker panels when they re-wire a place.

We've been thinking of getting one installed, so I did a little research.
Leviton seems to be the biggest vendor in the US. They have an
interesting dodge, which is a surge arrestor that goes in series with
electric meter, inside the metter housing. In my case, this is outside
of the house, which means if it turns into a fireball, it probably won't
do a lot of damage. I also like the idea of stopping the surge as early
in the wiring as possible.

http://www.levitonproducts.com/catal..._50240-MSA.htm

I've got a query in to see if it will fit in just any old meter housing,
and how it compares with some of their breaker panel add-ons. Other than
having to deal with the electric company to replace the seal on the meter
housing, this thing looks like a snap (literally) to install. The cost of
the suppressor is about the same for either approach, but the electrician
should be able to install the meter version in considerably less than
half the time.

Doug White